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UPDATE 05/21/07
STOCKS:
The
trend continues to be higher for the next few
months. Although a rapid 300-400 point shake out
wouldn’t surprise me. Any pullback should find
support at 13,200. I am still looking for one more
correction to be followed by another move to all
time highs to complete the advance off the March
lows.
Cycles will be negative in the fourth quarter of
this year, so I would expect a top no later than
July/August.
BONDS:
June
bonds sold off again and appear headed back to
support just above 109. The market is getting
oversold and I would view any further weakness as a
buying opportunity.
I
still favor higher prices and lower yields during
the second half of this year.
Patience on the long side should soon be rewarded.
The next advance should take bonds to the 119-120
level.
GOLD:
June
gold moved and closed below the weekly uptrend
suggesting a move back under $ 650. However, a close
back above $ 670 could turn the outlook more
favorable short term.
The
XAU may have completed its multi month triangle
pattern at Thursdays low. If so, gold stocks should
start moving considerably higher in the coming
weeks.
It
is looking like bonds and metals stocks may be the
best performers in the second half of this year.
Regards and Good Luck,
Jay
Sanderson
TimingStock.com
To
see Jay's past Market Commentary and other products,
please click here
www.reliablestockcycles.com
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Commentary Archives
Long term cycle is bullish -
1/06/07
Next Cycle Low is due In March
-1/27/07
Market still positive -
2/05/07 | 
